Gold Price Analysis: XAU/USD remains unable to consolidate above $1,820

Gold prices print new highs, but continues to have difficulties holding above $1,820.
Divergence in metals: gold tests daily highs while silver hits fresh lows.
Volatile final hours of 2022 across financial markets on the London fix.

Matías Salord FXStreet

Gold prices are hovering around $1,820 about to end 2022 practically flat for a wild year. On Friday, XAU/USD rose to as high as $1,825 and then pulled back. The bias point to the upside, but the yellow metal continues to show difficulties in holding above the $1,820 zone.

Silver and gold prices showed an unusual divergence. Silver tumbled from fresh highs at $24.15 to 23.66$ while gold remained near the top. XAU/USD is up 0.21% and XAG/USD falls by 0.95%.

Volatility is on the rise during the last hour of trading of the year across financial markets. The Dow Jones is falling by 0.76% and the Nasdaq by 1.25%. US stocks are about to have the worst year in more than a decade.

It has been a wild year for gold. It reached levels above $2,000 during the first half of the year and then tumbled until it built a base around $1,615 from where it started a recovery that is still going on.

Gold daily chart

XAU/USD

Overview
Today last price	1820.77
Today Daily Change	6.18
Today Daily Change %	0.34
Today daily open	1814.59

Trends
Daily SMA20	1795.58
Daily SMA50	1746.52
Daily SMA100	1722.8
Daily SMA200	1781.03

Levels
Previous Daily High	1820.21
Previous Daily Low	1803.77
Previous Weekly High	1823.84
Previous Weekly Low	1783.84
Previous Monthly High	1786.55
Previous Monthly Low	1616.69
Daily Fibonacci 38.2%	1813.93
Daily Fibonacci 61.8%	1810.05
Daily Pivot Point S1	1805.5
Daily Pivot Point S2	1796.42
Daily Pivot Point S3	1789.06
Daily Pivot Point R1	1821.94
Daily Pivot Point R2	1829.3
Daily Pivot Point R3	1838.38

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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